Ford Otosan

Major automaker Ford will cut its North American vehicle production next week due to a semiconductor shortage, U.S. media reported on Feb. 5.

Ford plans to suspend production of vehicles including the Ford Bronco, the popular F-150 pickup and the new Mustang Mach-E electric vehicle at its plants in Michigan, Illinois and Mexico, according to outlets including CNBC.

Ford Otosan, a joint venture of Turkey's Koç Holding and U.S. automotive giant Ford, has unveiled Turkey's first domestically-developed gearbox at its plant in the Central Anatolian province of Eskişehir.

The European Bank for Reconstruction and Development (EBRD) is supporting the production of a range of next generation all-electric and plug-in hybrid variants of one-ton commercial vehicles for the European market by arranging a 650 million-euro loan to Ford Otosan, US automaker Ford's joint venture with Turkey's Koç Holding, according to a statement from the bank on July 14.

Ford Otosan, a joint venture of Turkey's Koç Holding and U.S. auto giant Ford, is planning to become carbon neutral by 2050, its CEO Haydar Yenigün has said.

"The brand of Ford prioritizes electrification and environment-friendly investments globally," he told reporters in an online press conference.

Carmaker Ford Otosan will temporarily halt production at one of its plants in Turkey's northwestern Kocaeli province due to disruptions in global supply processes.

Turkey will become the largest center for production of electric vehicles in the next decade, President Recep Tayyip Erdoğan has said.

Erdoğan said on March 16 at the Ford Otosan Future Vision meeting held at the Presidential Complex that the government was also determined to turn Turkey into a production center for electric vehicle batteries.

Turkey-based automotive firm Ford Otosan - a joint venture of Turkish Koç Holding and Ford - started works to establish a battery assembly factory for electric vehicles in the industrial province of Kocaeli.

Most of the Turkish automotive companies are planning to reopen manufacturing plants next week after nearly a one-month-long suspension due to measures to curb the spread of the novel coronavirus.

Automotive production in many Turkish factories has not been suspended so far despite the measures taken by the authorities to fend off coronavirus pandemic risks, representative of automakers said on March 18.

Ford-Otosan, a joint venture between Ford Motor Co. and Turkey's Koç Holding, has unveiled its new tow truck, mostly developed domestically in Turkey by 1,500 Turkish engineers in five years.